Saudi Investments invests in 4 new American companies

The Saudi Public Investment Fund increased its holdings of US stocks to about $ 12.8 billion in the fourth quarter, from $ 7 billion in the third quarter of last year, an increase of 83%, after investing in 4 new companies during that period and after a disclosure submitted to the Authority. US regulatory agency.

According to Arabiya Net, according to the disclosure made to the US Securities and Exchange Commission, the Public Investment Fund bought a $ 1.07 billion stake in Electronic Arts and a $ 1.4 billion stake. In Activision Blizzard.

He also bought 51.2 million shares in Multiplan, and 3.9 million shares in Take To Interactive.

In the third quarter, the Public Investment Fund cut its investment in North American stocks by $ 3 billion, while it sold shares in some ETFs and shares in companies including Berkshire Hathaway According to Reuters.

and at the beginning of 2020, the fund bought minority stakes in companies around the world, including oil companies, to take advantage of the market weakness caused by the Covid-19 pandemic.

Saudi Arabia transferred a total of $ 40 billion from foreign reserves with the Central Bank to finance the investments of the sovereign wealth fund in March and April of last year.

and the latest disclosure showed that the value of his largest possession of US stocks, his stake in Uber Technologies, rose to $ 3.7 billion in the fourth quarter, from $ 2.66 billion in The third quarter after the company's shares jumped nearly 40% on a quarterly basis.

and the Saudi Sovereign Wealth Fund was among the first investors in Uber, buying a $ 3.5 billion stake in 2016 three years before the company was listed in 2019.

The Public Investment Fund, which manages $ 400 billion in assets, plans to double its assets to 4 trillion riyals ($ 1.07 trillion) by 2025 in a move that will make it one of the largest Sovereign wealth funds in the world.

Saudi Crown Prince Mohammed bin Salman has been pushing the Public Investment Fund as a mainstay in his plan to find ways to boost growth and reduce the kingdom's economic dependence on oil.